Commercial Lease – 520 Eighth Avenue, New York, NY 10018
Asking Rent: $10,000/month
Size: 1,798 SF
Lease Type: Retail / Food & Beverage / Boutique Service
Property Type: Ground-Floor Retail Space
Location: Midtown West / Penn Station Corridor (10018)
Availability: Immediate
Property Overview
520 Eighth Avenue offers a 1,798 SF ground-floor retail space in the high-traffic Penn Station/Times Square corridor. With excellent Eighth Avenue frontage, constant commuter and office-worker traffic, and proximity to major transit hubs, the property is ideally suited for quick-service restaurants, cafés, retail shops, fitness/wellness studios, or service-based businesses.
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This space benefits from exposure to one of Manhattan’s busiest corridors, making it a cost-effective opportunity for operators seeking steady visibility in Midtown West.
Key Features
- Total Size: ≈ 1,798 SF
- Asking Rent: $10,000/month
- Annualized Rent: ≈ $120,000
- Effective Rent per SF: ≈ $67/SF annually
- Configuration: Efficient floorplan adaptable for food, retail, or service use
- Frontage: Prominent Eighth Avenue exposure with high branding potential
- Potential Uses: Café, fast-casual restaurant, boutique retail, fitness/wellness, salon, service-based retail
Lease & Terms
- Base Rent: $10,000/month (~$67/SF/YR)
- Term: Negotiable (long-term preferred)
- Availability: Immediate / by agreement
- Due at Signing: First month + security deposit; tenant financials required
- Tenant Responsibilities: Utilities, RE tax, and obligations typical for retail leases
Market Profile
- Location Advantage: Prime Midtown West retail corridor near Penn Station, Port Authority, Times Square, and Madison Square Garden.
- Transit Access: Steps from Penn Station (Amtrak, LIRR, NJ Transit, A/C/E, 1/2/3), Port Authority, and multiple bus/subway lines.
- Neighborhood Demand: Strong from food & beverage, convenience retail, and service-based operators serving commuters, tourists, and office workers.
- Competitive Advantage: Affordable sub-$70/SF retail with steady foot traffic in one of Manhattan’s busiest districts.
Summary
The 1,798 SF retail space at 520 Eighth Avenue, New York, NY 10018 is offered at $10,000/month (~$67/SF annually). With high visibility, strong commuter traffic, and an adaptable layout, this property is a compelling opportunity for retailers or food operators seeking presence in the Penn Station/Times Square corridor.
